The Iranian MOU could hold the peace but it doesnt solve all the longterm issues

“Versailles is the real deal,” said President Trump when his French counterpart Emmanuel Macron invited him to dinner at the royal palace during this month’s G-7 conference.G-7 leaders praised the US’ latest agreement with Iran as a “breakthrough,” but if anyone thinks the Trump-touted “deal” Vice President Vance negotiated with Iran is “real,” they should have another thing coming — a massive attack.Vance spent last week defending the deal, which isn’t even a deal but a “memorandum of understanding.” Typically, “MOUs” are “good faith” documents issued to express non-binding notions of future relationships.

Upon the signing of this MOU’s official text ahead of schedule on Wednesday, US officials reportedly said it was a “political document” that failed to account for undisclosed backchannel discussions.Even Vance admitted its terms are “very general.”That’s a generous assessment since many of them are worryingly vague.

The Strait of Hormuz, for example, is to be opened, but only for 60 days, after which the Iranians can engage in “dialogue” with other Gulf states to “define the future administration and maritime services” international law nominally prohibits.Iran has suggested this could include resuming its illegal toll regime.The US will fully unfreeze Iran’s foreign assets, but on terms to be negotiated later and with no enforcement mechanism to ensure Iran doesn’t spend the funds on its depleted military.

Iranian oil can flow under US waivers, though existing sanctions will remain in place, also pending later negotiation.The Iranians will theoretically benefit from “at least $300 billion” in “reconstruction and economic development” for which the US will facilitate “financial transactions.” The MOU is mum on where those funds will come from, though Vance has promised no taxpayer cash will go to Tehran.That could be true.

Or not.American warships will stop blockading Iran’s ports but n...